He said the Prime Minister would not last in her role as she faces up to the difficulties of bringing about a 'clean' or 'hard' Brexit, predicting that Britain could quickly rejoin the EU or enter a successor arrangement once they finally leave the bloc.

“In my opinion it is unlikely that Prime Minister May is actually going to remain in power,” continued the Hungarian hedge fund boss.

“Already she has a very divided cabinet, a very small majority in parliament and I think she will not last.

“At the moment the people in the UK are in denial. The current economic situation is not as bad as was predicted, and they live in hope.

“But the currency depreciates, and inflation will be the driving force, this will lead to declining living standards.

“This is going to take some time, but when it does happen they’ll realise that they are earning less than before because wages won’t rise as fast as the cost of living.”

May's Brexit speech: Europe reacts
Tue, January 17, 2017

Politicians and celebrities tweet their reaction as Theresa May unveils her 12 point plan for Britain leaving the EU.

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The British Prime Minister Delivers Her Brexit Speech

Mr Soros denounced Brexit Secretary David Davis’ views that it will not take long to strike a deal, with the billionaire magnate saying he expects a long and messy divorce.

“The divorce is going to take a very long time. It’s much harder to divorce than to get married, so I think the desire for rapprochement will develop and in theory.

“Maybe even in practice you could have a situation in 2019 or 2020 when Britain will leave the EU because it does have to take place.

"But they could leave on a Friday but join over the weekend and have the new arrangement in place for Monday morning."